I agree that there is a serious and urgent need for global economic governance.
But as the failing experiment in Europe is showing, simply creating financial or economic collaboration does not guarantee success.
The institutions cannot solve the problem since the root problem causing the crisis is much deeper.
We are incapable of building true global cooperation due to our inherent human nature that is self-centered, and egoistic and as a result we are incapable of making any calculations for any other reason but for self-benefit.
And today this inherent human nature is in direct opposition with the surrounding global conditions.
Since we evolved into an interconnected and interdependent human system the usual self-calculationg, egoistic decision making and action has become self-destructive.
Thus before we would like to build new institutions, and create global cooperations we need to "reprogram" the human being, the user of the system.
And this reprograming obviously have to flow in a willing manner without any coercion or trickery, thus people would need to see a positive motivation for such fundamental self-change.
And such positive motivation for change can only be provided by a new, global education program for all social layers, genders, ages, with any cultural, national backgrounds using the already available, transparent scientific information about the global world and how human beings could adapt to it.

Globalization is increasing inequality, so it is only right and appropriate for people to be very "self-centered". All actions around poverty and inequality are in relative terms and based on not affecting the doctrine of perpetual growth (which is built-in the monetary system itself).

We do not need "educational programs", reprogramming, or brainwashing. We need reduction of inequality and reduction of the absolute numbers of poor people (not percentages). This cannot happen with financing and lending at interest. It requires redistribution of wealth, which is incompatible with the debt-based monetary system and financing practices of capitalism. It needs political action, and there is no global political institution. This is not by lack, since it is contrary to commercial practices and interests, and the economics of optimizing capital preferences instead of societies preferences.

The only way forward is by introducing social preference to the basis of the financial system, by limiting bank lending according to the preferences of depositors. This preserves the banking establishment and monetary system that is hard to bypass, but accepts, by definition, that economic agents do not act on the basis of self-interest only. This has a chance of working better for inequality.

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